China-U.S. economic talks display pragmatism and shared responsibility

Editor's note: Jessica Durdu, a special commentator on current affairs for CGTN, is a foreign affairs specialist and PhD candidate in international relations at China Foreign Affairs University. The article reflects the author's opinions and not necessarily the views of CGTN.

In a moment where the global economy is beset by mounting uncertainties and shifting dynamics, the high-level meeting on economic and trade affairs between China and the United States held in Geneva on May 10 and 11 has emerged as a significant development that deserves international attention. Led by Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent, the meeting was marked by what both sides called an in-depth, constructive and candid atmosphere, terms not often heard in recent years.

Several aspects of the meeting are worth analyzing to better understand the evolving nature of China-U.S. relations. First, the tone of mutual professionalism repeatedly emphasized by Chinese officials reveals an underlying shift in how Washington approached the dialogue. Comments from He and other Chinese representatives lauded the American delegation's professional, pragmatic and rational attitude, highlighting their willingness to engage based on expertise rather than ideology.

Li Chenggang, the international trade representative with the Chinese Ministry of Commerce and vice commerce minister, underlined that the American side showed a rational, objective and pragmatic spirit, which contributed to reaching important consensus points. This departure from the ideologically charged posture of previous months suggests that U.S. officials may now be prioritizing economic realities over political theater.

With the U.S. economy still grappling with inflationary pressure, market volatility, such a pivot toward professionalism is both strategic and necessary. As such, the Trump administration may now feel the urgent need to recalibrate its approach, shifting toward consultation rather than confrontation.

Equally notable is the joint recognition that China-U.S. economic relations carry weight far beyond the realm of bilateral trade. As He aptly put it, the nature of the relationship is "mutually beneficial and win-win," and its impact extends to the stability and development of the global economy. He emphasized that both sides are aware of the high international attention this meeting received, underlining the symbolic and practical importance of China-U.S. ties.

The Chinese side reiterated that the world is changing in ways that are unseen, but within this transformation, the economic cooperation between these two major powers holds enormous responsibility and potential. The fact that both delegations framed their engagement in terms of global responsibility signals a maturing recognition of the roles they play as stewards of international economic order. This sense of shared responsibility may be one of the most promising outcomes of the Geneva talks, especially at a time when the world is navigating uncharted transformations.

Moreover, China's response to a pointed question from a journalist during the press conference regarding whether the meeting would help reduce the U.S. trade deficit provides subtle insight into the balance of leverage at the table. The Chinese side made it clear that any agreement will serve China's own development interests. This calm but firm stance indicates that China came to the talks from a position of strength, unwilling to make any one-sided concessions. As the country that was forced into a defensive position during the tariff conflict yet managed to preserve its long-term economic strategy, China now seems more determined to ensure that no agreement undermines its domestic development objectives.

It is a reminder that although the U.S. may seek relief from trade imbalances, the solutions will not come at the expense of China's core economic objectives. Instead, any new deal will likely reflect a more balanced and reciprocal understanding, rather than a politically imposed framework.

The establishment of a formal economic and trade consultation mechanism stands out as a tangible and forward-looking outcome of the meeting. By appointing top-level officials such as the Chinese vice premier to co-lead the mechanism, both sides are signaling an intention to move beyond symbolic gestures and engage in intensive, solutions-oriented diplomacy. On the U.S. side, figures like Scott are expected to bring high-level expertise and authority to the new mechanism.

The agreement to hold both regular and irregular consultations demonstrates the urgency with which both governments now view the need to stabilize economic ties, not only to safeguard domestic interests but also to provide predictability to the global market. The emphasis on professionalism, efficiency and precision in consultations also reflects a mutual desire to avoid bureaucratic delays and focus directly on resolving concrete issues.

While the full details of the joint statement are expected to be released shortly today, both parties have already described the outcome as good news for the world economy. As the Chinese delegation poetically concluded, "When the dishes are delicious, the timing does not matter." This metaphor not only captures the spirit of patience and satisfaction but also underlines the belief that what truly matters is the substance of the outcome rather than its immediate announcement.

With foundational mechanisms now in place and goodwill cautiously restored, the path ahead for China-U.S. economic relations looks more open than it has been in years.

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